Retractable Technologies, Inc. Reports Stock Price Anomalies
15 Décembre 2022 - 7:09PM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) issues this
press release to express the Company’s concern regarding stock
price anomalies in its Common Stock and disclose actions taken to
date. Concerned about possible market manipulation, the Company
engaged an independent highly reputable economic consulting firm in
2021 which analyzed millions of trades in the Company’s stock in
recent years. This in-depth analysis, costing the Company over $600
thousand, confirmed that there were statistically significant
anomalies in the market’s reaction to the Company’s positive
disclosures, meaning that the Company’s stock price would often
react negatively or in a statistically insignificant way following
positive earnings reports and press releases. The Company’s
consultant presented its analysis to the U.S. Securities and
Exchange Commission in March 2022. In late November 2022, the
Commission informed the Company that it would not pursue the matter
further from an enforcement perspective. In summary, the Company’s
management expresses its disappointment that the Company’s stock
price does not appear to correlate to the Company’s actual value
and advises its stockholders that an investment in the Company’s
stock is not likely to track the Company’s operational performance
based on historical data.
ABOUT RETRACTABLE
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products and the EasyPoint® needle. The
VanishPoint® syringe, blood collection, and IV catheter products
are designed to prevent needlestick injuries and product reuse by
retracting the needle directly from the patient, effectively
reducing exposure to the contaminated needle. Patient Safe®
syringes are uniquely designed to reduce the risk of bloodstream
infections resulting from catheter hub contamination. The
EasyPoint® is a retractable needle that can be used with luer lock
syringes, luer slip syringes, and prefilled syringes to give
injections. The EasyPoint® needle also can be used to aspirate
fluids and for blood collection. Retractable's products are
distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20221215005939/en/
Retractable Technologies, Inc. John W. Fort III, 888-806-2626 or
972-294-1010 Vice President, Chief Financial Officer, and Chief
Accounting Officer
Retractable Technologies (AMEX:RVP)
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